Deepak Kapoor, President CREDAI Western U.P.

Once implemented, the Real Estate Regulatory Bill will not only change the way real estate works but will also be beneficial to all the concerned stakeholders. The bill will act as a protector of home buyer’s interest and will help in building such brands in the market which will be known for quality and timely deliveries. There are key features of the bill like maintaining an escrow account by builders, barring developers from making changes in the construction plans etc which will are in the interest of customers. The regulator will also bring some consolidation between organized and un-organized players in the market, boosting the confidence level of customers. The bill is welcomed to become a law but it must be fair in nature as well to avoid hindrances and confusions.